Beazer Homes Q3 net income $27.2M ($0.88 EPS), down 38% YoY; orders fall 10.8%

BEAZER HOMES USA INC

2024-Q3 EPS reported $2.84 revenue$1,524,040,000

Diluted EPS from continuing ops $0.88 vs $1.42 YoY; Adjusted EBITDA $53.5M, down 26.5%.
Homebuilding revenue $589.6M (+3.3%); gross margin ex I&A & interest 20.3%, down 310 bps.
Net new orders 1,070 (-10.8%); sales pace 2.4/community/month vs 3.2; cancellation rate 18.6%.
Land spend $201.1M (+52.7%); controlled lots 28,365 (+24.9%); repurchased $12.9M of stock.
Michael Dunn appointed SVP, GC & Corporate Secretary; Keith Belknap retiring; John Kelley joined board.

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